On average, homeowners pay around $39,575 to remodel multiple rooms in their home. There are always upgrades you want to make to your home. Maybe you want to switch wall colors or maybe you want to knock out a wall in order to have a more open and spacious floor plan.
No matter the renovations you’re looking to make, there are golden rules that you’ll want to follow. Here are 5 things to keep in mind before hiring a contractor or heading to the local hardware store to get needed supplies.
1. Know Your Budget
In a world where everyone seems to have a perfectly designed house, it’s easy to get sucked into all sorts of renovation projects. But, before you start painting or ripping out your existing cabinets, take the time to create a detailed budget.
How much can you afford to spend? Do you plan to hire contractors? Will the renovations impact daily living? All of these questions are important when creating a budget and deciding how big of a project you can afford. Stretching your money too thin on a certain project can be problematic.
We all know that things go wrong at the worst times, so you want to leave money available just in case you pick the wrong paint color or your cabinets don’t fit as you expected them to.
2. Consider the Future
How long do you plan to live in the current home? You don’t want to put thousands of dollars into home upgrades if you’re planning to move in the near future. While some renovation projects offer a high return on investment, especially bathroom and kitchen remodels, others don’t.
Think about your future plans and make renovation decisions wisely. If you plan to be in the home for more than 7 years, any renovation is usually worthwhile. But, if you’re looking to renovate and then sell, you want to be smart about the upgrades you make, otherwise you risk losing money come selling time.
If you’re a homeowner looking to boost your home’s value before selling, you’re best to put time, money and effort into renovations such as:
Curbside appeal (ie. landscaping, home’s exterior, etc.)
Space additions such as a patio or porch
Kitchen or bathroom remodeling
Replacing old appliances
It’s also important to upgrade items that are past their lifespan like leaky windows and hard-to-open sliding patio doors. Replacing these items is a beneficial decision for you and future buyers.
By considering the future, you can make smart renovations that will benefit you both now and in the future.
3. Think Long-Term
Interior design trends come and go. If you look at what was trending on Pinterest a year ago and compare it to today’s trends, you’ll see just how often and how quickly things change. Before spending thousands of dollars on a home remodel, think about why you’re making the change. Is your bathroom due for an upgrade or are you looking to make the space more trendy?
Upgrade your home because it’s in need of an upgrade not because you want to keep up with the latest and greatest fads on social media or in home magazines. This minimizes the risk of you spending money on an upgrade that you redo in just a few years.
4. Don’t Forget About the Exterior
Many homeowners spend too much time upgrading the interior of their home while forgetting about the exterior! Your home’s curb side appeal matters, even if you’re not looking to sell anytime soon. There’s nothing better than a home that looks good from the outside in.
While you may want to remodel your bathroom or finish the basement, if the weather is warm, consider taking your upgrades outside. Landscaping, installing a patio, or repainting your exterior doors, shutters, and siding will give your home a fresh new look.
5. It’s Okay to Go Small
Not all home projects need to be expensive, and not all projects need to be super involved in order to make a difference in your house. There are all sorts of smaller projects that you can make to change the look of your home.
Painting the walls a new color is an obvious option, but other projects like new cabinet hardware, new shingles, or even installing crown molding can completely revamp the look, feel, and ambiance of a room. Small changes like these will have a big impact on a room.
Conclusion
Home renovations are one of the most exciting parts of owning a home! But, if you renovate without properly planning, you could end up losing hundreds if not thousands of dollars. before starting your next home upgrade project, be sure to keep these 5 tips in mind.
What are your home renovation goals for 2019? Leave us a comment in the section below.
